Egypt’s trade balance deficit increased by 23.8% year on year (YoY) to $2.33 billion in April 2023 from $1.89 billion in the same month of 2022, according to a press release published by the Central Agency for Public Mobilization and Statistics (CAPMAS). 

The value of Egyptian exports fell by 44.9% YoY in April, reaching $3.03 billion from $5.5 billion. 

Meanwhile, the value of Egypt’s imports dropped by 27.4% YoY to $5.36 billion last April from $7.38 billion in April 2022.